|Bid||1.1500 x 4500000|
|Ask||0.9750 x 10295400|
|Day's range||1.0620 - 1.0900|
|52-week range||0.7200 - 1.2700|
|PE ratio (TTM)||30.21|
|Earnings date||18 Feb. 2017 - 22 Feb. 2017|
|Forward Dividend & Yield||N/A (N/A)|
|1y target est||1.10|
Fairfax Media's shareholders are set to vote on spinning off its lucrative property advertising division, the Australian publishing giant said Friday. Like its international peers, Fairfax -- the owner of major mastheads The Sydney Morning Herald, The Age and The Australian Financial Review -- has seen profits hit by dwindling advertising revenue and circulation figures. The float of Domain had been flagged for some months, with Fairfax hopeful it would get a better market valuation if listed separately on the stock market.
Australian publishing giant Fairfax Media on Wednesday posted a return to profit following a cost-cutting drive, although advertising revenue for its major newspapers weakened further. Fairfax -- which owns The Sydney Morning Herald, The Age and The Australian Financial Review -- reported an annual net profit of Aus$83.9 million (US$65.7 million) in the year to June 30. The turnaround followed a Aus$772.6 million loss reported over a previous 12-month period.
American investment firm Hellman & Friedman has kicked off a bidding war for Australia's Fairfax Media by making a multi-billion-dollar offer to rival private equity company TPG Capital's proposal, the publishing giant said Thursday. Hellman & Friedman -- former owners of US multimedia company and German publisher Axel Springer -- made an offer to acquire Fairfax at Aus$1.225-Aus$1.250 (91-93 US cents) a share late Wednesday, the Australian firm said. The offer is higher than TPG's revised bid of Aus$1.20 made on Monday, and values the publisher at Aus$2.82-Aus$2.87 billion.
A consortium led by private equity giant TPG Capital upped its offer for troubled Fairfax Media Monday and now wants to buy out the entire firm. Last week TPG and the Ontario Teachers' Pension Plan Board offered 95 Australian cents per share for Fairfax's leading mastheads and its lucrative Domain Group focused on property advertising. This would have left shareholders with Fairfax's regional papers, 50 percent of its online streaming service Stan and its beleaguered New Zealand business, which was recently dealt a blow when the country's competition watchdog rejected a merger with NZME.
Staff at Australia's Fairfax Media walked off the job for a week on Wednesday in protest at more hefty job cuts as the leading publisher struggles to cope with slumping revenues. The strike action by journalists, including those from the Sydney Morning Herald and The Melbourne Age, followed an announcement that Fairfax will cut another 125 editorial jobs -- a quarter of its newsroom -- as part of a restructure to save money.
8 November 2016: As part of the New Zealand Commerce Commission ('NZCC') process for approval of the proposed merger between NZME Limited (NZX:NZM, ASX:NZM) ('NZME') and the New Zealand subsidiary of Fairfax ...
2016 Annual General Meeting The text version of this document is not available at the moment. The original content was posted at original link . Fairfax Media Limited published this content on 03 November ...
31 October 2016: Fairfax Media Limited ('Fairfax') has sold its TenderLink business to Dun & Bradstreet Australia ('D&B'). TenderLink, established in 1994, is one of the largest online procurement ...
Stan Investor Briefing The text version of this document is not available at the moment. The original content was posted at original link . Fairfax Media Limited published this content on 26 October 2016 ...
25 October 2016: Australia's leading digital publisher Fairfax Media today launched a new high-end online shopping destination, The Store by Fairfax, www.thestore.com.au. With an emphasis on Australian ...
2016 Annual General Meeting The text version of this document is not available at the moment. The original content was posted at original link . Fairfax Media Limited published this content on 21 October ...